Despite a slight rise, inflation is still lower than expected and experts predict that the Bank of England base rate and mortgages will continue a downward path. This is because the market will have prepared for an inflation increase.
Several leading lenders are now offering some mortgage deals under 4% and people are asking, will rates fall further this year and should I wait? Well, it’s expected we’ll see continued movements in mortgage rates as lenders will adjust and improve where they can. With the latest inflation update, it may be more accurate to say that the downward path will be a slow one.
If you’re looking to buy a property or are coming up to remortgage, it may be a good idea to act fast to grab your best deal. The average shelf life of a mortgage product dropped to 17 days in August, down from 30 days in July. Start researching today, give us a call to see if we can help you. 01983 525710
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